At the moment i have a celeron overclocked and its just not cutting it as you can imagine!
This is what im considering putting together (prices are in Australian dollars):
GV-RX70P256V ATI Radeon X700PRO 256MB,128bit,PCIEx16, $399
Intel Pentium IV '530' 3.00Ghz 800Mhz LGA775 $309
WD1600JD 160GB, 7200rpm, 8Mb Cache, SATA $159
512MB Corsair 240-pin DDR2 XMS2-4200 non-ECC, $139
P5GDC-V-Deluxe I915G/ICH6R/PCIEx16/DDR COMBO/8USB2.0/SATA/GbLAN/1394/ATX $279
Antec "Solution Series" SLK1650 ATX 350W Black/Beige Midi Case $129
I know the new 6 (ie: P4 640 3.2ghz is aussie $465) range is out for the P4 now, and it offers cooler temps and 2mb cache, but the base model at 3.2ghz costs almost another $150 on top of the p4 530 im wanting to get. The 540 (next model up on the 530) is $60 more than the 530, hence why I have gone with that one.
Im at least hoping having the 775 board with ddr 2 allows me some scope for upgrade, but as ddr2 rams gets faster I guess your mobo also needs to be able to handle that too.
I think the board I have picked is not bad for the price, offering pci xpress, ddr2 etc.
Im intending to play a few games on this system, as well as do some video editing etc from stuff I have filmed on my digital video.